Kinross Gold Corporation · TSX:K
Kinross Gold — National Bank Financial Institutional Luncheon (October 2010)
28 slides from Kinross Gold's conference presentation, Oct 13, 2010
Slide 1: Delivering Disciplined Growth
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Delivering Disciplined Growth National Bank Financial Institutional Luncheon Toronto, ON October 13, 2010 Cautionary Statement on Forward‐Looking Information All statements, other than statements of historical f
Slide 2: Why Kinross Now?
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Whyy Kinross Now? Tye W. Burt President & CEO 3 Continuing the Kinross Transformation Kinross Yesterday Kinross Now(1) 4.5 – 4.9 Gold equivalent production (mm oz) Gold equivalent production (mm oz) 2.6 ‐ 2.7 2.
Slide 3: Focused in the World's Best Gold Districts
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Focused in the World’s Best Gold Districts Strong North American Fort Knox asset base in the Tintina High‐grade epithermal district Dvoinoye gold belt, Nevada and with exploration upside Kupol White Gold Washing
Slide 4: Strong Balance Sheet
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Strong Balance Sheet • Pro forma cash on hand: ~$1.4 bn • Equity investment portfolio valued at ~$186 mm(ii) $1,392 US$ millions(i) $744 $589 Cash and cash equivalents Long‐term investments Long‐term debt (i) Un
Slide 5: Expanding Margins
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Expanding Margins 2004 – H1 2010: $633 • Average realized gold price: +175% • Kinross’ Ki ’ attributable tt ib t bl costt off sales i (4): +293% l margin $530 +293% Costt of Sales Margin ($/oz.) $436 $329 $279 $
Slide 6: Tasiast: A World-Class Gold Deposit
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Tasiast: A World‐Class Gold Deposit • Open‐pit mine located in Mauritania, ~300 km north of the capital city of Nouakchott • Situated Sit t d in i remote, t flflat, t sparsely l populated l t dddesertt • Commerc
Slide 7: Tasiast – District Upside
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Tasiast ‐ District Upside • First mine in a highly prospective C23 + gold belt o Continuity of geology o Simple stratigraphy Tasiast Trend • Only 8 km of 70 km strike length in unexplored Archean greenstone Tasi
Slide 8: Tasiast Mine Trend
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Tasiast Mine Trend • The Greenschist Zone features intervals averaging ~60 to 100 m wide, grading 1.5 – 3.0 g/t • Kinross’ preliminary estimate: o 350 – 425 mm tonnes grading 1.5 – 1.8 g/t Au(6) • Geological mod
Slide 9: Plan View of Drilling at Tasiast
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Plan View of Drilling at Tasiast 17 Tasiast Geological Model Project Layout Piment Sud Sud Piment Sud Nord Piment Central West Branch Footwall Zone Greenschist Zone Piment North Schematic X‐section 18 9
Slide 10: Greenschist Target
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Greenschist Target Aug.’09: 17 m at 1.69 g/t Jan’10: 84 m at 1.92 g/t Aug. ’09: 21 m at 1.74 g/t Jan.’10: 85 m at 2.42 g/t Jan.’10: 94 m at 2.78 g/t Sep.’10: 81 m at 3.00g/t Sep.’10: 45 m at 4.26 g/t Sep.’10: 74
Slide 11: District Targets
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 District Targets C67 34m at 1.71g/t 4m at 11.10g/t 19m at 1.19g/t Aoeouat 12m at 2.18g/t 15m at 3.72g/t 6m at 10.62g/t 9 att 7 9m 7.41g/t 41 /t Prolongation 13m at 4.08g/t 6m at 2.61g/t C69 6m at 13.0g/t 13m at
Slide 12: Chirano – Expanding Gold Mine in Ghana
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Chirano ‐ Expanding Gold Mine in Ghana • Established open‐pit and underground mining operation Tasiast • 90% owned by Kinross; Ghana holds a 10% interest Chirano • Nine open‐pits and two underground deposits • A
Slide 13: Tasiast Orebody Capability
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Tasiast Orebodyy Capability p y Rob Henderson Senior Vice‐President, Technical Services 25 Growing Resource Base • Target: 350 – 425 million tonnes grading 1.5 to 1.8 g/t(6) 1.9 Ounces (millions)(2) 1.4 0.8 9.2
Slide 14: Mining Method
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Metallurgical Test work(i) on Greenschist Ore • The Greenschist sulphide ore is free milling and test work shows the gold is amenable to standard Carbon‐In‐Leach recovery. • Gold recoveries from the mill are exp
Slide 15: Significant Pit Expansion Potential
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Significant Pit Expansion Potential • Initial deep drilling results provide further resource expansion opportunity Source: Please refer to the Red Back Mining news releases dated April 12, 2010 and July 21, 2010
Slide 16: Scoping Study
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Scoping Study • Scoping study to confirm optimal mining and processing rates expected at year‐end 2010 • Development plan possibilities include: o Accelerate Oxide Leach Mining Rate From current 10 ktpd – 40 k
Slide 17: Kinross' Expansion Plans for Tasiast
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Kinross’ Expansion Plans for Tasiast • Kinross development plan for Tasiast currently envisions: o Construction of a new mill, mill increasing capacity from 10k tpd currently to 60k tpd o Larger mining fleet, ta
Slide 18: Crushing / Grinding Circuit
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Crushing / Grinding Circuit Ball Mill 1 26 x 40.5 26’ 40.5’ 16.4 MW SAG Mill Ball Mill 2 40’ x 25’ 26’ x 40.5’ 26MW 16.4 MW Ball Mill 3 (optional) 26’ x 40.5’ 16.4 MW 35 Large Open‐Pit Projects 60 Global Mines /
Slide 19: Large Open-Pit Projects
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Large Open‐Pit Projects 3.0 2.5 Ahafo Donlin Creek Courageous Lake 2.0 Gold Grade (g/t) 1.5 Tarkwa Lobo Marte Malartic Detour Lake 1.0 La Colosa Yanacocha Livengood Telfer Veladero Boddington Maricunga Conga 0.5
Slide 20: Why Kinross Now?
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Whyy Kinross Now? Tye W. Burt President & CEO 39 National Bank: P / NAV 2.3 1.9 1.8 1.7 1.6 1.4 AEM NEM ABX GG AUY KGC Source: National Bank Financial research – October 12, 2010 40 20
Slide 21: Why Kinross Now?
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 National Bank: P / 2011e CFPS 15.5 14.6 12.6 10.3 10.1 8.5 AEM GG KGC ABX AUY NEM Source: National Bank Financial research – October 12, 2010 41 Whyy Kinross Now? 1. High‐growth major 2. Strong cash flow from pu
Slide 22: Continuing the Kinross Transformation
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Continuing the Kinross Transformation Kinross Yesterday Kinross Now(1) 4.5 – 4.9 Gold equivalent production (mm oz) Gold equivalent production (mm oz) 2.6 ‐ 2.7 2.2 1.6 2005 2009 2010e 2015e (1) Please refer to
Slide 23: Kinross Senior Leadership Team
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Kinross Senior Leadership Team 45 Tye W. Burt President & Chief Executive Officer Tye Burt was appointed President and Chief Executive Officer of Kinross in March, 2005. He has been a member of the Board of Dire
Slide 24: Brant Hinze
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Brant Hinze Executive Vice‐President & Chief Operating Officer Brant Hinze was appointed Executive Vice‐President & Chief Operating Officer, October 1, 2010. Mr. Hinze is an accomplished mining industry leader w
Slide 25: Geoffrey P. Gold
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Geoffrey P. Gold Executive Vice‐President & Chief Legal Officer Geoffrey P. Gold was appointed Senior Vice‐President and Chief Legal Officer of Kinross on May 24, 2006. In March 2008, Mr. Gold was appointed Exec
Slide 26: Dr. Kenneth G. Thomas
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Dr. Kenneth G. Thomas Senior Vice‐President, Projects Ken Thomas was appointed Senior Vice‐President, Projects in December 2009. Ken was most recentlyy Global Managingg g Director at Hatch ‐ a multinational comp
Slide 27: Lisa J. Colnett
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Lisa J. Colnett Senior Vice‐President, Human Resources and Corporate Services Lisa was appointed Senior Vice‐President, Human Resources and Corporate Services, in November 2008. She joined Kinross from Celestica
Slide 28: Endnotes
Kinross Gold Corporation National Bank Financial Institutional Luncheon October 13, 2010 Rob Henderson Senior Vice‐President, Technical Services Rob Henderson is currently Senior Vice President Technical Services with Kinross Gold Corporation, where he is responsible for strategic mine planning, min
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